Extremely bullish signal for Chainlink?

Can LINK Marines prepare for another explosion in the price of their favorite chain link fence? According to Santiment analysts, there is currently an extremely bullish signal for the currency.

Why?

Because a “large amount” of older coins changed wallets on Tuesday.

Why is this optimistic?

Such developments should not be optimistic based on your feelings alone. Because why would it have a positive effect on the Chainlink price if a large number of coins that have been in the same wallet for a long time suddenly start moving?

Is it not possible that these coins will then be offered for sale?

However, according to Santiment analysts, it is a positive sign. “The movement of large amounts of ‘old coins’ is often followed by large price increases, which we also saw on September 15.” This led to a 31% explosion in Chainlink prices over the next two weeks,” Santiment said.

Based on this price history, Santiment now believes it can predict that Chainlink is likely to rise.

More optimistic developments for Chainlink

That’s not the only positive thing about Chainlink at the moment. Even when it comes to developer activities, Chainlink tops the list of crypto projects.

The decentralized network has recorded 349.87 GitHub commits in the last 30 days, ranking it 6th in the crypto world. In very simple terms, this means that Chainlink developers don’t sit still when it comes to developing code.

Polkadot is currently the kingpin in this space, followed by Kusama, Cardano, Hedera, Status and then Chainlink.

According to Santiment analysts, this is also a bullish sign for the project. Many people working on the protocol means that this group of developers has confidence in the future of the coin.